首页>
外国专利>
SYSTEM AND METHOD FOR BACKSTOP FACILITY FOR ISSUANCE OF EXTENDABLE ASSET-BACKED COMMERCIAL PAPER
SYSTEM AND METHOD FOR BACKSTOP FACILITY FOR ISSUANCE OF EXTENDABLE ASSET-BACKED COMMERCIAL PAPER
展开▼
机译:支持可扩展资产支持的商业票据发行的支持机构的系统和方法
展开▼
页面导航
摘要
著录项
相似文献
摘要
A system and method for providing backstop liquidity for an extendable commercial paper issue used to finance asset-backed securitization transactions through an up-front commitment from a highly rated entity to purchase fixed-income securities. A conduit that issues extendable commercial paper backed by a plurality of asset securitization transactions obtains a triple-A rated guaranty for each of the plurality of asset-backed securitization transactions and secures an up-front commitment from a highly rated backstop, provider to purchase fixed-income securities to be issued in the future by such conduit (or an affiliated conduit) to retire such conduit's outstanding extendable commercial paper in the event that the conduit is unable to retire such commercial paper before the end of its extension period. The extendable commercial paper includes secured liquidity notes (SLNs) income securities include asset-backed medium-term notes (MTNs).
展开▼